Tag Archives: restaurants

How restaurants old and new make money – LOB 068

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The restaurant business isn’t easy. 90% of new ones fail. But that also means some succeed. Here are a few success stories as The Language of Business looks at restaurant profitability.

Host Greg Stoller interviews three different restaurateurs: Rafael Barbosa, CEO for Fire+Ice Interactive Grill & Bar in Boston’s Back Bay; John Akar and Greg Sessler, Co-owners of Cava Tapas and Wine Bar in Portsmouth, NH; Andrew Weiner, Owner of Catering by Andrew in Brookline, MA.

Cold open “Olympia Deli” clip courtesy of NBC Saturday Night Live (1975).

 

Restaurant profitability – LOB 030

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50% of new restaurants wind up closing. That also means 50% succeed and stay open. The Language of Business looks at four different restaurants – a national chain, a mom and pop shop, a place two high school friends opened in the middle of the great recession, and a fine dining spot run by someone who’d rather be carving a pig than checking the books. These interviews were done a couple of years ago for the TV version of The Language of Business. Of these four restaurants, two are still open. Can you guess which two?

Greg Stoller talks with Rafael Barbosa, CFO of Fire + Ice in Boston, Anaheim and Lake Tahoe CA; Steve and Karen Waller, Co-Owners of Center Cafe in Needham, MA; John Akar and Gregg Sessler, Co-Owners of Cava Tapas and Wine Bar in Portsmouth NH; Jeffrey Fournier, Chef and Owner of 51 Lincoln in Newton MA.